Fox Corp

Latest Results (30.07.2026):

Fox Corporation’s third quarter fiscal 2026 (quarter ended March 31, 2026) reported revenue of $3.99 billion, net income of $175 million ($166 million attributable to Fox stockholders, $0.38 per share) and Adjusted EBITDA of $954 million. Results reflected lower total revenue versus the prior-year quarter—largely from the absence of Super Bowl LIX—but higher Adjusted EBITDA and adjusted net income driven by lower sports programming and production costs and growth in digital distribution (notably Tubi).

Total results

Total quarterly revenue was $3.99 billion (vs. $4.37 billion a year earlier). Reported net income was $175 million (net income attributable to Fox stockholders $166 million, $0.38 per share).

Adjusted metrics

Adjusted net income attributable to Fox stockholders was $570 million ($1.32 per share) versus $507 million ($1.10) in the prior-year quarter. Adjusted EBITDA rose 11% year-over-year to $954 million.

Advertising and distribution

Advertising revenue declined to $1.56 billion from $2.04 billion year‑over‑year, primarily due to the absence of Super Bowl LIX, partially offset by an extra NFL Wild Card game and digital/Tubi growth. Distribution revenue increased 3% to $2.11 billion, driven by a 5% rise in the Cable Network Programming segment.

Cable Network Programming

Cable Network Programming revenue increased 6% to $1.741 billion. Segment EBITDA was $884 million (up slightly), with distribution (+5%), advertising (+5%), and content/sublicensing (up 24%) cited as drivers; higher sports rights amortization raised expenses.

Television segment

Television segment revenue fell to $2.197 billion from $2.704 billion, with advertising down notably due to no Super Bowl LIX ($1.17B vs $1.66B prior). Despite lower revenue, Television segment EBITDA improved to $191 million (from $60 million) as expense reductions—mainly lower sports rights amortization and production costs—more than offset the decline.

Balance sheet & cash flow

Cash and cash equivalents were $3.601 billion at March 31, 2026 (down from $5.351 billion a year earlier). Operating cash flow for the nine months was $1.103 billion; investing and financing activity included buybacks and capital expenditures.

Share repurchases

Through March 31, 2026, Fox had repurchased about $6.7 billion of Class A and $1.8 billion of Class B shares, with $3.5 billion of repurchase authorization remaining. During the quarter, the company repurchased roughly $50 million of Class A and $50 million of Class B stock.

Management commentary

Management highlighted core advertising strength, leadership in live programming, and Tubi’s continued growth, and noted the upcoming FIFA Men’s World Cup as a near-term content catalyst while reiterating a focus on long‑term shareholder value and a strong balance sheet.